We use cookies to customise content for your subscription and for analytics.If you continue to browse Lexology, we will assume that you are happy to receive all our cookies. For further information please read our Cookie Policy.

The Ticker - October 29, 2015

Last week the SEC staff published much-anticipated guidance on two rules that public companies may use to exclude a shareholder proposal from their proxy statements. The guidance will make it much more difficult to exclude a shareholder proposal under Rule 14a-8(i)(9) on the basis that the proposal "directly conflicts" with a management proposal.

According to a recent report by the Center for Political Accountability, more public companies are voluntarily disclosing information about their political contributions. In addition, the report suggests that the quality of information being reported is also improving and that more companies are setting political spending policies.

The SEC recently announced a summary of its enforcement efforts for the fiscal year ended September 30, 2015. According to the report, the SEC filed 807 enforcement actions covering a wide range of misconduct and obtained orders totaling approximately $4.2 billion in disgorgement and penalties.

The delayed and gradual release of news about United Continental CEO Oscar Munoz's heart attack is a reminder of the difficult disclosure decisions public companies face when a CEO gets sick. Deciding what to say and when to say it involves a delicate balance between investors’ need for disclosure and the CEO’s right to privacy.

The Ticker shares recent developments in SEC compliance, capital markets, corporate governance, executive compensation and other matters important to public companies and their officers and directors. It is published by Fredrikson & Byron’s Public Companies Group.

Compare jurisdictions: Corporate Governance

" I am very pleased with the content of the Lexology newsfeeds. They are a centralized way of getting legal related updates from many jurisdictions and a great way to stay informed with a minimal time commitment."